Applied Optoelectronics, Inc. (AAOI) Shares Gap Down on Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $47.47, but opened at $47.01. Applied Optoelectronics shares last traded at $44.23, with a volume of 3,149,419 shares.

Specifically, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $406,000.00. Following the completion of the transaction, the director now directly owns 45,638 shares in the company, valued at approximately $2,647,004. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now owns 89,742 shares of the company’s stock, valued at $8,302,032.42. The disclosure for this sale can be found here. Insiders sold a total of 35,633 shares of company stock valued at $2,879,445 over the last quarter. Company insiders own 8.19% of the company’s stock.

A number of research analysts have issued reports on AAOI shares. Cowen and Company reiterated an “outperform” rating and set a $94.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, June 21st. Needham & Company LLC reiterated a “strong-buy” rating and set a $85.00 price target on shares of Applied Optoelectronics in a research report on Monday, June 26th. DA Davidson started coverage on Applied Optoelectronics in a research report on Thursday, June 29th. They set a “buy” rating and a $95.00 price target for the company. BidaskClub lowered Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $90.00 price target (up previously from $85.00) on shares of Applied Optoelectronics in a research report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and four have assigned a strong buy rating to the stock. Applied Optoelectronics presently has a consensus rating of “Buy” and a consensus price target of $70.42.

The firm’s 50 day moving average is $60.34 and its 200 day moving average is $64.00. The stock has a market capitalization of $837.36 million, a price-to-earnings ratio of 10.31 and a beta of 3.06.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same period last year, the firm posted $0.16 EPS. The business’s revenue was up 112.3% on a year-over-year basis. Equities research analysts forecast that Applied Optoelectronics, Inc. will post $5.32 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its stake in shares of Applied Optoelectronics by 20.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock valued at $13,163,000 after buying an additional 36,182 shares during the period. Navellier & Associates Inc acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $1,288,000. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $137,000. Public Employees Retirement System of Ohio increased its stake in shares of Applied Optoelectronics by 132.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after buying an additional 70,224 shares during the period. Finally, Sterneck Capital Management LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $247,000. 81.59% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “App

Specifically, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $406,000.00. Following the completion of the transaction, the director now directly owns 45,638 shares in the company, valued at approximately $2,647,004. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now owns 89,742 shares of the company’s stock, valued at $8,302,032.42. The disclosure for this sale can be found here. Insiders sold a total of 35,633 shares of company stock valued at $2,879,445 over the last quarter. Company insiders own 8.19% of the company’s stock.

A number of research analysts have issued reports on AAOI shares. Cowen and Company reiterated an “outperform” rating and set a $94.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, June 21st. Needham & Company LLC reiterated a “strong-buy” rating and set a $85.00 price target on shares of Applied Optoelectronics in a research report on Monday, June 26th. DA Davidson started coverage on Applied Optoelectronics in a research report on Thursday, June 29th. They set a “buy” rating and a $95.00 price target for the company. BidaskClub lowered Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $90.00 price target (up previously from $85.00) on shares of Applied Optoelectronics in a research report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and four have assigned a strong buy rating to the stock. Applied Optoelectronics presently has a consensus rating of “Buy” and a consensus price target of $70.42.

The firm’s 50 day moving average is $60.34 and its 200 day moving average is $64.00. The stock has a market capitalization of $837.36 million, a price-to-earnings ratio of 10.31 and a beta of 3.06.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same period last year, the firm posted $0.16 EPS. The business’s revenue was up 112.3% on a year-over-year basis. Equities research analysts forecast that Applied Optoelectronics, Inc. will post $5.32 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its stake in shares of Applied Optoelectronics by 20.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock valued at $13,163,000 after buying an additional 36,182 shares during the period. Navellier & Associates Inc acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $1,288,000. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $137,000. Public Employees Retirement System of Ohio increased its stake in shares of Applied Optoelectronics by 132.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after buying an additional 70,224 shares during the period. Finally, Sterneck Capital Management LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $247,000. 81.59% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Applied Optoelectronics, Inc. (AAOI) Shares Gap Down on Insider Selling” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/17/applied-optoelectronics-inc-aaoi-shares-gap-down-on-insider-selling.html.

About Applied Optoelectronics

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

Receive News & Ratings for Applied Optoelectronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply